]Story by Michele Lerner
…While technology can remove the need for face-to-face interaction during the loan application and home search, appraisers and home inspectors typically need to see a property in person to make an evaluation. Appraisal alternatives are possible for many transactions, some on a temporary basis, such as an exterior-only appraisal or a desktop appraisal that relies on technology to evaluate property.
“Fannie Mae and Freddie Mac want to leverage technology to gather objective data for home valuations,” says Kenon Chen, executive vice president of corporate strategy for Clear Capital, a provider of property valuations and real estate analytics, headquartered in Reno, Nev. “The idea is to bring the home to the appraiser instead of making the appraiser go to the home.”
